Devs need to fuck off with their useless ico scam coins!

[opossum]

It is probably one or two persons who are doing this over and over again.. Same like the Virus guy(s)..

As long as it is working, they will keep doing it...

Most of these are either alecrypto and/or placebo

Yes there is for sure only a small amount of them doing them, the guy/s stated above are some but lets not forget the king of ICO scams mr bobsurplus and his little crew of degenerates and shills. I used to love being here in the alt section but very rarely do I sift threw all the crap now. Voted Yes 

[ShoeOnHead]

Why can we sell accounts here?
Why can people have unlimited accounts here?
Why is bitcointalk not doing anything? How hard is it for Bitcointalk to hand over the scammer info to the authorities?
Why is all of this illegal in the real world but not here?
Why do we let this happen?

Maybe it's time to kill bitcointalk alt section and start a new forum with some values and rules.
Only we can change something here!

[Piston Honda]

OP is junior account and probably thinks this stuff only started to happen after he pressed the registration button.  Even before I registered on BTT, there were all sorts of IPO / ICOs / Scams from early 2013 (before the $1250 boom) for alternates.  That's not forgetting about BTC itself which also had various scams before 2013 which took up to then 6 figure amounts (worth a lot more today).

Some people got prosecuted but most have never been - I suspect most of the scammers are waiting for the statue of limitations to end (5-7 years in many countries for this kind of crime) before they can safely cash out as multi-millionaires.

FYI I am into mining since 2012. In 2012-2013 this was a pretty nice place to come with a lot of above average intelligent people who had good ideas about the future.

There were nice coins, with dedicated devs. It was nice to mine.

Now this place is like toxic waste. And we let it happen. It's a shame! It's time for a big cleanup! We are the community, we decide what coins are welcome here and what coins need to fuck off!

yup

[bathrobehero]

Why can we sell accounts here?
Why can people have unlimited accounts here?
Why is bitcointalk not doing anything? How hard is it for Bitcointalk to hand over the scammer info to the authorities?
Why is all of this illegal in the real world but not here?
Why do we let this happen?

Maybe it's time to kill bitcointalk alt section and start a new forum with some values and rules.
Only we can change something here!

Because it would happen anyway outside of bitcointalk and bitcointalk probably doesn't have the resources to investigate and enforce such rules nor they want the drama that's following bans and accusations.

This forum is just a tool, not an authority figure. Same as exchanges, people blamed them a while back for adding all kinds of shitcoins while they are also just a tool which can be used in different ways.

If I had to guess I'd say the guys behind bitcointalk would probably rather close the whole altcoin section before spending time and money starting to govern shitcoins individually and I wouldn't blame them.

One of the reasons this forum is as big as it is because everyone can say whatever they want. People just need to learn how to swim in these muddy waters that is the altcoin section.

[buddynuno]

It is probably one or two persons who are doing this over and over again.. Same like the Virus guy(s)..

As long as it is working, they will keep doing it...

Most of these are either alecrypto and/or placebo

They are probably 90% from placebo, I always had requests from him via PM for adding a pool for his ICO scams until it became too obvious at some point and I stopped adding his coins - he's now basically pissed and already on my ignore list.

I'll post some warnings about him and his (pseudo escrowed) coins.

I am still wondering why Hero members havent bombard that Placebo guy with negative trust!? Maybe it is time to do so? Newbies should be protected by those sharks imo.

[solid12345]

Next time you hear a dev say they need tens of thousands of dollars to code a coin remember these guys made a bomb-ass special fx laden movie for $1000
and got it on the shelves in Best Buy

https://www.youtube.com/watch?v=mISUM0qvFTQ

[TaunSew]

Most cryptocurrencies are programmed in the proverbial basement, in people's spare time, and yes this even applies to the 'big projects' which took investments exceeding $500,000.

Everyone treats the market like their coin is going to be worth billions within the year (or 5) but, in all honesty, there's no guarantee of anything.  There should only be PoW (albeit this isn't necessarily fair anymore due to the capital costs to get involved) and forum based or identity based distribution.

[tyz]

Well, my idea is to create an application process for a new announcement thread. if the application is not an obvious scam coin then a mod will allow to post the announcement.

[bathrobehero]

forum based or identity based distribution.

Good idea except it is too easy to exploit.

Well, my idea is to create an application process for a new announcement thread. if the application is not an obvious scam coin then a mod will allow to post the announcement.

Then that mod will be promptly accused of being incompetent if he doesn't let a legit coin through and get called scammer if he let a scam through. Or he gets bribed or just even accused of bribed and we're back to square one. If one person could decide what is a scam and what isn't then Proof of Developer would still be a thing.


I think it's just the amount of people who like to gamble with terrible odds are the ones generating enough profit for ICO scammers to keep pushing out new ones. Or who knows, maybe the scammers are just creating the illusion selling their ICO's by buying their own coins to encourage others, it's not like they lose anything doing that anyway.

[plast555]

I think this is one part responsibility of exchanges too, because they are supporting those coins and those devs, so if coin fail they need to give back invested money to people !
I think that Devs when decide to make an ICO have to make POM, Proof of Money, without money and future investing, making a wall to protect the price, you don't have nothing to do here, better don't do nothing except f*** all of us !!
That has to be regulated by the law because this is serious thing !
But I have to say, today Twelve coin is very good example how ICO has to be done right, they put Buy wall in place for 5 days of 8 BTC and probably they are buying just to make a moving.

[portice]

If people keep buying them, then people will continue to make them. 

[morrisonsa]

blood on streets....

Revolution!

Remember, remember, the Fifth of November, the Gunpowder Treason and Plot. I know of no reason why the Gunpowder Treason should ever be forgot...

[Crestington]

Why can we sell accounts here?
Why can people have unlimited accounts here?
Why is bitcointalk not doing anything? How hard is it for Bitcointalk to hand over the scammer info to the authorities?
Why is all of this illegal in the real world but not here?
Why do we let this happen?

Maybe it's time to kill bitcointalk alt section and start a new forum with some values and rules.
Only we can change something here!

Because it would happen anyway outside of bitcointalk and bitcointalk probably doesn't have the resources to investigate and enforce such rules nor they want the drama that's following bans and accusations.

This forum is just a tool, not an authority figure. Same as exchanges, people blamed them a while back for adding all kinds of shitcoins while they are also just a tool which can be used in different ways.

If I had to guess I'd say the guys behind bitcointalk would probably rather close the whole altcoin section before spending time and money starting to govern shitcoins individually and I wouldn't blame them.

One of the reasons this forum is as big as it is because everyone can say whatever they want. People just need to learn how to swim in these muddy waters that is the altcoin section.

The ICO thing would happen regardless so if there is a lot of scam ICO's then there aren't people investing in new Coins because of that fear or will question why. More investment would then flow into existing projects rather than being spread out into new ones.

[NattyLiteCoin]

Www.litecoin.com

[catena5260]

the problem is not devs that make pump and dump ico scam coins, the problem are the users that still invest and lose money to them.

No people investing in scam coins = no more devs launching scam coins

[spartak_t]

I said it number of times before, I'll say it again - there is nothing wrong in ICO's as long as the money are used properly. But there must be more threads like this! Please understand that many capable coders and people with visions beyond of making some extra quick bucks are not well funded and their voice often remain unheard. This is happening, because of the one simple fact - people's greed. Thing is that many people are buying into the ICO's, because they know (let's face it - many ICO's were successful and people got chances to sell higher than they bought) that they will make profit, no matter if that profit is from screwing the average Joe who was naive enough to buy and hold. The simple fact is that people are buying to make quick profit - not because they want to support the given project, or cryptocurrencies for that matter. And the "devs" who are running them knows that!

Ask yourself why people (we are talking about the average Joe who is naive enough) are investing in ICO's and they are losing in 95% of the cases? Because they are sheeps... thats why! Instead asking themselves: "How the guys behind this project will sell the idea to the world.", they are buying roadmaps and fancy promises. Why are you not buying and supporting coins which are currently existing? Because they probably can't buy you a yacht that fast.

As for the scammers who are lurking in here... most of you have no idea. If you believe that let's say 2 people are behind 20 coins - you will be wrong. The situation is much worse than you think!

[DiamondCardz]

This forum is becoming a joke! Please vote to let the scam devs know we are done with this shit!

Do you think devs need to fuck off with their useless ico scam coins?

I mean how many more times before you fucking lemmings wake up?

https://youtu.be/K91WIBsKu_Y 

Time for an altcoin revolution!

"devs"

It does not take skill to copy and paste some source code and make some minor edits. Believe me, there were many more useless altcoins being made in 2014. I named my refresh key "The Virgin Mary" because every time I pressed it, it seemed to give birth to a new bloody altcoin.

[BTI4LIFE]

This forum is becoming a joke! Please vote to let the scam devs know we are done with this shit!

Do you think devs need to fuck off with their useless ico scam coins?

I mean how many more times before you fucking lemmings wake up?

https://youtu.be/K91WIBsKu_Y 

Time for an altcoin revolution!

I. S. O. = initial scam offering !!!

;-)

haaaa

[BTI4LIFE]

Why can we sell accounts here?
Why can people have unlimited accounts here?
Why is bitcointalk not doing anything? How hard is it for Bitcointalk to hand over the scammer info to the authorities?
Why is all of this illegal in the real world but not here?
Why do we let this happen?

Maybe it's time to kill bitcointalk alt section and start a new forum with some values and rules.
Only we can change something here!

short answer : real world investors think this whole bitcoin movie as a "game"



weeeee

[Crestington]

I said it number of times before, I'll say it again - there is nothing wrong in ICO's as long as the money are used properly. But there must be more threads like this! Please understand that many capable coders and people with visions beyond of making some extra quick bucks are not well funded and their voice often remain unheard. This is happening, because of the one simple fact - people's greed. Thing is that many people are buying into the ICO's, because they know (let's face it - many ICO's were successful and people got chances to sell higher than they bought) that they will make profit, no matter if that profit is from screwing the average Joe who was naive enough to buy and hold. The simple fact is that people are buying to make quick profit - not because they want to support the given project, or cryptocurrencies for that matter. And the "devs" who are running them knows that!

Ask yourself why people (we are talking about the average Joe who is naive enough) are investing in ICO's and they are losing in 95% of the cases? Because they are sheeps... thats why! Instead asking themselves: "How the guys behind this project will sell the idea to the world.", they are buying roadmaps and fancy promises. Why are you not buying and supporting coins which are currently existing? Because they probably can't buy you a yacht that fast.

As for the scammers who are lurking in here... most of you have no idea. If you believe that let's say 2 people are behind 20 coins - you will be wrong. The situation is much worse than you think!

You don't really need an ICO, if you launch without one you can just wait until the initial mining dump finishes and begin buying, you could easily get 15-20% of the Coin for cheap and then just continue developing on it and you get the best of both worlds. If you launch without an ICO and buy from the market and are able to buy larger amounts then you would have had to buy from miners/stakers so assuming there was no deception, you can attain more than what could have been had by premining and can resale or give those Coins away to help stimulate development without having to worry about the accounting of it.